ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Megan is currently in 8th grade and wants to begin saving money for college. She wants to invest $2000 in a simple interest account that pays at a rate of 3.5%. How many years will she have to save for the account to gain $490 in simple interest?
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5 years
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6 years
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7 years
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8 years
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Explanation:
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